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Did you know that the median age that a woman loses her husband is 59? I didn’t realize this fact until I ran across this excellent article from financial powerhouse Blackrock via Investopedia, which ties in love and money between couples while referencing John Gray’s Men are From Mars, Women Are From Venus.
This paradigm makes sense, because money is frequently a tender spot among couples, since our money attitudes and habits come from our parents. More often than not, couples are attracted initially to the different approach that their spouse brings to the relationship. Later in the relationship, after the early passion becomes warm and fuzzy, and these differences usually need to be addressed and reconciled to maintain harmony. (Get my Wealth Creation Launcher here to get started; it’s free!)
My favorite part of this post is:
Understand the division of labor in your relationship when it comes to financial matters. Accept your strengths and those of your partner.
When couples become clear about who does what, financial tasks are more likely to get done.
Financial Woman Insight:
This article is full of good wealth management suggestions for women. One point I do not agree with is for one spouse, usually the woman, to schedule another money related tasks instead of meeting with her financial adviser to discuss investment performance if this is not her “cup of tea”.
A good understanding of investment performance basics is a must have for all female investors. Not having this foundation defeats the crucial goal of a woman always being able to care for herself financially.
Being present in meetings with a financial adviser requires very little time, yet it empowers female investors to stay focused on their wealth, and, therefore, able to make wise money decisions.